Disclosures About Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Disclosures About Fair Value of Financial Instruments

Summary of the carrying amounts and fair values of financial instruments

	December 31,

	2013				2012
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(in thousands)
Loans receivable, net⁽²⁾	$	366,001	$	373,441	$	276,030	$	279,850
Marketable debt securities⁽³⁾		244,089		280,850		222,809		234,137
Marketable equity securities⁽¹⁾		—		—		24,829		24,829
Warrants⁽³⁾		114		114		670		670
Term loan⁽²⁾		226,858		226,858		222,694		222,694
Senior unsecured notes⁽¹⁾		6,963,375		7,405,817		6,712,624		7,432,012
Mortgage debt⁽²⁾		1,396,485		1,421,214		1,676,544		1,771,155
Other debt⁽²⁾		74,909		74,909		81,958		81,958
Interest-rate swap asset⁽²⁾		2,325		2,325		89		89
Interest-rate swap liability⁽²⁾		8,384		8,384		12,699		12,699
Currency swap liabilities⁽²⁾		2,756		2,756		2,641		2,641

(1): Level 1: Fair value calculated based on quoted prices in active markets.
(2): Level 2: Fair value based on quoted prices for similar or identical instruments in active or inactive markets, respectively, or calculated utilizing model derived valuations in which significant inputs or value drivers are observable in active markets.
(3): Level 3: Fair value determined based on significant unobservable market inputs using standardized derivative pricing models.

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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